Whoosh Bottle DEVOURS Balloons!

Why does the balloon explode and implode on top of a whoosh bottle? See if you can figure out why this strange phenomena happens. To help you consider:
Charles Law
Boyles Law
Gay Lusaacs Law
How the number of gas molecules effects the pressure.

This experiment was done with 91% isopropyl alcohol and an Oggi container with a hole drilled in top. The bottle was then hot glued in the hole. The striker was made from an old cheap lighter.